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Which one of the following inventory costing methods is supposed to issue the most recently purchased goods?

A. FIFO

B. LIFO

C. AVCO or averrage cost

D. Moving average

Answer: Option B

Solution(By Examveda Team)

LIFO inventory costing methods is supposed to issue the most recently purchased goods. LIFO, which stands for last-in-first-out, is an inventory valuation method which assumes that the last items placed in inventory are the first sold during an accounting year.

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